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CPS Teacher Housing: Home Buying
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Sponsored by
CPS Teacher Housing Resource Center
Qualified CPS teachers can now
get up to $7,500 in homebuyer assistance!
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Each eligible CPS teacher must be:
- A highly-qualified CPS teacher for at least one academic year **
- Committed to teach an additional 5 years at CPS
- A first time homebuyer in Chicago with homeownership education certificate
- Five year owner occupancy required (additional statement)
The assistance is:
- An interest-free loan forgiven at the end of the 5 th year
- $7,500 to purchase/live in a new CHA mixed-income development
- $3,000 to purchase/live anywhere else in the City
- Mortgage must originate with 1 of 13 CPS Teacher Housing Lender Partners: Wintrust Mortgage Corporation; Wells Fargo; Providential Bancorp; PERL Mortgage, Inc.; Pacor Mortgage Corporation; National City Mortgage; Marquette Bank; Harris Bank; Fifth Third Bank; CitiMortgage; Chicago Municipal Employees Credit Union; Chase Home Finance; or A and N Mortgage. Contact Lender Partner representatives identified on the CPS Teacher Housing “Lender Partner Referral List”.
Teacher Home Buyer Assistance Program
To apply for the CPS Teacher Homebuyer Assistance Program, carefully review and
follow the instructions on these documents:
 Roadmap to Home Buying
Purchasing a home is a major investment and there are many things to consider as
you go through the process. Some things to consider:
To help you find the perfect home, check out the following websites to see for
yourself what properties are for sale in the neighborhoods you're considering
and to find access to useful online tools:
Search Chicago
Properties
MLSNI.com
( http://www.mlsni.com
) - The largest source of real estate listings in Chicago.
Protect Yourself From
Predatory Lending
Predatory
Lending Information ( Link ) - Predatory lending
refers to abusive mortgage practices, which threaten the financial security of
homeowners and the stability of neighborhoods.
Credit Reporting Service
myFICO (
www.myfico.com ) - An online credit reporting service.
Download
Acrobat Reader (for PDF files)
» PROCEED TO HOME BUYING PREMIER LENDING PROGRAMS
» PROCEED TO HOME BUYING PREMIER DEVELOPERS
» PROCEED TO CITY / PRIVATE HOME BUYING RESOURCES
» PROCEED TO EDUCATION / NON-PROFIT HOME BUYING RESOURCES
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